The foldable phone market seems to be the sole shining star in the smartphone industry this year. According to Display Supply Chain Consultants (DSCC), global foldable shipments in the second quarter of this year increased by 42% compared to the previous year and grew by 16% from the first quarter of 2023, reaching a total of 2.2 million units. Foldable smartphone shipments are on track to set their own record.

Foldable smartphone shipments have reached 2.2 million units!

In the second quarter, Samsung emerged as the leading manufacturer of foldable phones, surpassing Huawei with a difference of 32% to 30% in market share. Interestingly, Huawei had the first and third best-selling foldable models by shipment. The Mate X3 was the most delivered phone from April to June, while the clamshell Pocket S ranked third.

In the second quarter, Samsung secured the second and fourth top-selling foldable devices with the Galaxy Z Flip 4 and Galaxy Z Fold 4, respectively. Vivo’s X Flip device ranked fifth. Clamshell models took the lead in the foldable market, capturing a 53% share in the second quarter.

During this quarter, DSCC anticipates a new record with global foldable shipments reaching 6.9 million units, marking a 10% annual increase from the third quarter of 2022 and a staggering 200% increase from the second quarter. Samsung’s market share is expected to decline in the third quarter of this year.

In the foldable panel market, Samsung Display experienced a decline. Holding a 63% share in all shipped foldable models, Samsung Display obtained a lower share compared to its previous year’s 68% share. This marked the lowest market share for Samsung Display since the first quarter of 2021